“There is a group working on [a budget proposal], and I’m hoping that by the end of the week, they will come up with what they have, an agreement,” Bellock said at Chicago’s City Club Monday.

Illinois has been without a budget since July of last year. The stalemate has hinged on a battle between Gov. Bruce Rauner and the Democrat-controlled Illinois legislature over the governor’s pro-business, union-weakening Turnaround Agenda.

A revamped school funding formula passed in the state Senate Tuesday, 31-21. The measure now moves to the Illinois House. Illinois Republicans previously called Sen. Andy Manar's proposal a “bailout” for CPS, according to the Sun-Times.

Rauner released his school funding breakdown last month. According to the Illinois State Board of Education, the plan calls for increasing funding by $120 million, fully funding the general state aid to schools instead of using proration, which has been used the past seven years to help balance the state’s books.

Rauner has agreed that the formula needs to be updated, but claimed lawmakers were holding schools "hostage" holding out for a change Monday.

The House personnel and Pensions Committee will hear a resolution Wednesday that looks to urge the House Speaker and members of the House Personnel and Pensions Committee to hold hearing to determine how the state could approach a lump sum pension or partial pension exchange option.

The measure is sponsored by Rep. Mark Batinick. According to the bill, the unfunded pension liabilities of the state’s retirement systems reached $111.2 billion in June of 2014.

Anna Hui, the nominee for Assistant Director of the Illinois Department of Labor, will receive an Executive Appointments hearing Friday. The measure is sponsored by Sen. Antonio Muñoz.

A variety of other nominees, including Tom Cross, who is nominated to be member and Chair of the Illinois Board of Higher Education, and Margaret Hickey, who is nominated to be the state’s Executive Inspector General, will also receive hearings Thursday.